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Watchlist Update: 5-16-2019 - IOVA - Iovance - Analyst Comments

On our watch list: Up 38%+ Thursday on great drug news.    $IOVA

Iovance Biotherapeutics price target raised to $34 from $29 at Baird

Baird analyst Madhu Kumar raised his price target for Iovance Biotherapeutics to $34 from $29 and maintained an Outperform rating, citing increased tumor-infiltrading lymphocyte technology conviction on ASCO abstracts in cervical cancer and metastatic melanoma. The abstracts for Phase 2 data for TIL technology increases his conviction in Iova's TILs, particularly in cervical cancer, the analyst says in a research note.

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Jefferies calls Iovance 'big winner' at ASCO, sees up to 40% share rally

Jefferies analyst Biren Amin calls the data reported by Iovance Biotherapeutics (IOVA) the "big winner" for the American Society of Clinical Oncology annual meeting. The ASCO update suggests Iovance's tumor infiltrating lymphocytes therapy could open the door for cell therapy in the "lucrative" solid-tumor market, Amin tells investors in a research note. He points out the company reported that no new patients have progressed in the melanoma trial and offered first evidence of clinically meaningful durability for TIL therapy. Also, its cervical data that reported a 44% overall response rate is three-times greater than reported with Merck's (MRK) Keytruda in a similar patient population, contends Amin. He believes last night's update could drive a 30%-40% rally in shares of Iovance. The analyst keeps a Buy rating on the name with a $29 price target.

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$IOVA, Iovance Biotherapeutics, Inc. / H1

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